MQS Management LLC Has $472,000 Holdings in State Street Co. (NYSE:STT)

MQS Management LLC decreased its stake in shares of State Street Co. (NYSE:STT) by 28.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 6,382 shares of the asset manager’s stock after selling 2,482 shares during the period. MQS Management LLC’s holdings in State Street were worth $472,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in State Street during the fourth quarter worth approximately $147,421,000. LSV Asset Management grew its stake in State Street by 30.6% in the 2nd quarter. LSV Asset Management now owns 5,282,386 shares of the asset manager’s stock valued at $390,897,000 after buying an additional 1,238,251 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in State Street by 541.2% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 751,641 shares of the asset manager’s stock worth $58,117,000 after acquiring an additional 634,422 shares during the period. SG Americas Securities LLC raised its holdings in State Street by 430.5% in the 1st quarter. SG Americas Securities LLC now owns 735,136 shares of the asset manager’s stock worth $56,841,000 after acquiring an additional 596,567 shares during the period. Finally, Balyasny Asset Management L.P. lifted its position in State Street by 57.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,563,964 shares of the asset manager’s stock worth $121,145,000 after acquiring an additional 573,016 shares during the last quarter. 87.44% of the stock is owned by institutional investors.

State Street Trading Up 2.4 %

STT stock opened at $89.28 on Friday. State Street Co. has a 1-year low of $62.78 and a 1-year high of $89.42. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.89. The business’s 50 day moving average is $82.99 and its 200-day moving average is $77.38. The firm has a market cap of $26.66 billion, a P/E ratio of 16.72, a P/E/G ratio of 1.38 and a beta of 1.48.

State Street (NYSE:STT) last announced its quarterly earnings results on Tuesday, July 16th. The asset manager reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.12. State Street had a return on equity of 11.78% and a net margin of 8.98%. The firm had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same period in the prior year, the business posted $2.17 earnings per share. The business’s revenue was up 2.6% compared to the same quarter last year. Equities analysts anticipate that State Street Co. will post 8.15 earnings per share for the current fiscal year.

State Street Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.41%. This is a boost from State Street’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Tuesday, October 1st. State Street’s dividend payout ratio (DPR) is currently 51.69%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Morgan Stanley raised their price target on State Street from $90.00 to $93.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 17th. Bank of America raised their target price on State Street from $85.00 to $96.00 and gave the company an “underperform” rating in a report on Wednesday, July 17th. Barclays upped their price target on State Street from $102.00 to $103.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Wells Fargo & Company raised their price objective on shares of State Street from $91.00 to $98.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Finally, The Goldman Sachs Group boosted their target price on shares of State Street from $89.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $88.89.

State Street Profile

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The company offers investment servicing products and services, including custody, accounting, regulatory reporting, investor, and performance and analytics; middle office products, such as IBOR, transaction management, loans, cash, derivatives and collateral, record keeping, and client reporting and investment analytics; finance leasing; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.